land kings appear one after another, and the property market shows obvious signs of improvement
2024-09-23
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liu aihua, spokesperson for the national bureau of statistics, said recently that judging from the relevant data from january to august, some indicators showed marginal improvement. relevant research reports pointed out that since 2023, real estate industry sales have been at the bottom stage, and industry clearance has continued.
property market hotspots
our reporter zhou xuesong
following shanghai, a new land king appeared in chengdu on september 20, and the real estate market in hot cities has attracted much attention.
speaking of the trend of the real estate market, liu aihua, spokesperson of the national bureau of statistics, said recently that from the relevant data from january to august, some indicators showed marginal improvement. liu aihua believes that the real estate market continues to be adjusted. from the perspective of future development, china's urbanization process continues to advance, and the new model of real estate development is accelerating. the real estate market still has great potential and space.
what signal does the emergence of land kings in hot cities send?
on september 20, the first plot of land in phase iii of chengdu financial city was sold, once again breaking the chengdu floor land price record, reaching 27,300 yuan per square meter.
this plot of land of about 24 acres attracted bidding from more than ten real estate companies including jinmao, china merchants, greenland, and beike. after several rounds of bidding, it was finally won by beihaojia, a subsidiary of the private enterprise beike, attracting widespread attention.
"the fundamentals of chengdu's real estate market are still very good. last year, the primary and secondary housing markets showed independent trends across the country, and the sales scale was far ahead of the country." on september 21, an expert from chengdu told a reporter from china economic times that the land was auctioned at a record high floor price, which has greatly boosted confidence in the entire chengdu real estate market.
on august 7 this year, a plot of land in xuhui district, shanghai was auctioned and eventually won by greenland. with a floor price of 131,045 yuan per square meter, it became the latest highest-priced land in the country.
on september 14, shanghai produced another land parcel with the second highest unit price. the caojiadu land parcel in jing'an district was finally sold at a price of 5.66 billion yuan, with a floor price of 114,100 yuan per square meter. the products brought by these land parcels are usually high-end residential products.
kuang hongguang, executive president of the building economy and headquarters economy branch of the china industrial development promotion association and head of the cluster think tank, told china economic times that the high-end residential market is still good, but its demand is limited. the reason why the market is optimistic about these projects is mainly because land resources in core areas are becoming increasingly scarce.
at present, the companies that are doing relatively well in the real estate market are the top-ranked and powerful real estate developers, and these companies are also the "big players" in land acquisition.
on september 20, a research report released by shanghai e-house real estate research institute and cric group pointed out that since 2023, real estate industry sales have been in a bottoming out stage and industry clearance continues.
according to the research report, the top three of the top 50 real estate companies this year are china overseas, poly development and china resources, while vanke, longfor, china merchants shekou, greentown, jianfa, jinmao and yuexiu are ranked fourth to tenth. among the top ten real estate companies, state-owned enterprises are the absolute main force, which also shows that state-owned enterprises have a strong ability to resist risks during the adjustment period of the real estate industry.
in addition, delivery capability has become an indicator that home buyers value and measure the operating capabilities of real estate companies. in this regard, leading real estate companies have an advantage and can restore and strengthen consumer confidence with strong delivery capabilities.
data released by china index academy shows that in the first eight months of this year, the total amount of land acquired by the top 100 companies was 473.13 billion yuan, a year-on-year decrease of 40.0%. in terms of new value, greentown, jianfa real estate and china resources land ranked the top three. from the perspective of the top 10 real estate companies in terms of land acquisition amount in key cities, state-owned enterprises are still the main force, and private enterprises are also replenishing land reserves in key areas.
from january to august, binjiang group ranked first in the amount and area of land equity acquired in zhejiang province. in addition, among private enterprises, regional real estate developers such as jiangshan wanli, weixing real estate, and deli real estate are also deepening their roots in key cities and increasing their land reserves.
"the third plenary session of the 20th cpc central committee has fully empowered city governments with the autonomy to regulate the real estate market. first-tier cities such as beijing have also optimized and adjusted their real estate policies. these are all good indicators. the leading role of first-tier cities has always been very obvious, and new first-tier cities are also expected to introduce more policies to promote real estate stability and transformation and development." said the aforementioned expert.
market oversupply forces real estate industry to adjust and transform
from a historical perspective, the living conditions of our country's residents have undergone tremendous changes.
the per capita housing construction area in my country's urban areas has increased from 8.3 square meters in 1949 to more than 40 square meters by the end of 2023; a total of more than 64 million units of various types of affordable housing and resettlement housing have been built, and more than 150 million people have realized their dream of a safe home.
talking about the housing problem, luan guichuan, a professor at the graduate school of the chinese academy of social sciences, told the china economic times that vertically speaking, our housing security and freedom of residence are already quite good, but horizontally speaking, there are both achievements and shortcomings. due to the rapid development of the real estate industry, it is undeniable that the quality of many houses needs to be improved.
he believes that in the future, efforts should be made to improve the refinement of architecture and decoration, as well as the comfort of living. "japan's population density is higher than china's, but the quality of japanese housing is relatively good, which is worth learning from."
in the past, there were not enough houses to live in, but now there is insufficient demand, which will force the real estate industry to adjust and transform. according to a research report by e-house and cric, in recent years, there has been a clear differentiation in the strategic layout of real estate companies. in terms of business operations, some real estate companies have shifted their development model from development-oriented to development and operation-oriented, promoting the coordinated development of diversified businesses. some real estate companies focus on the main business of development, reduce investment in business segments with more deposited funds or too long business return cycles, and sell diversified businesses such as office, commercial, hotel, cultural tourism, etc. in exchange for working capital. some real estate companies also choose to divest their real estate business and transform to a light asset model during the deep adjustment period of the industry.
as one of the real estate companies with the most transformation efforts, a person in charge of midea real estate said in an interview with a reporter from china economic times that the company's transformation and adjustment direction is to turn to real estate manufacturing, asset operation and space services. "we will continue to do the development project business that we control. after all, the company still needs to develop, and we have to choose the right time and opportunity to acquire land. the real estate market still has great potential and space, but adjustment takes time."
wen laicheng, a professor at the central university of finance and economics, said in an interview with a reporter from china economic times that in response to the oversupply in the real estate market, relevant parties can purchase some of the overstocked commercial housing as low-rent housing and public rental housing and rent them to low-income people. this can not only solve the problem of overstocked commercial housing, but also meet the needs of some groups with difficulties in life, so that resources can be used reasonably. at the same time, tax reductions and exemptions can be used to promote the release of rigid demand and improvement demand.
"some resort communities are doing much better than living communities now." kuang hongguang told reporters that the per capita housing area in china is not low now, but there is still a large structural demand. the transformation and development of real estate still needs to adhere to the people-oriented principle and develop products according to the needs of residents.
an industry insider who declined to be named said in an interview with a reporter from china economic times that from the perspective of my country's history, if we trade time for space and get through the most difficult period, buying houses and land will still be the most popular investment direction for the people, and it is also a high-quality asset for ordinary people to protect against inflation.
